GlobalFoundries (GFS) and IBM (IBM) Settle, Resolve All Litigation Matters

GlobalFoundries (Nasdaq: GFS) (GF) and IBM (NYSE: IBM) today announced that the two companies have reached a settlement in their ongoing lawsuits, resolving all litigation matters, inclusive of breach of contract, trade secrets and intellectual property claims between the two companies. This settlement marks the end of an ongoing legal dispute and allows the companies to explore new opportunities for collaboration in areas of mutual interest.

The details of the settlement are confidential and both parties have expressed satisfaction with the outcome.

"We are pleased to have reached a positive resolution with IBM, and we look forward to new opportunities to build upon our long-standing partnership to further strengthen the semiconductor industry," said Dr. Thomas Caulfield, president and CEO of GF.

“Resolving these disputes is a significant step forward for our companies and will allow us to both focus on future innovations that will benefit our organizations and customers,” said Arvind Krishna, Chairman and CEO of IBM.

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